# Finance Act 1987, Paragraph 5B


(1) A nomination of a transaction shall not be effective unless oil is delivered pursuant to a contract at arm's length the terms of which incorporate the information specified in the nomination in accordance with paragraph 5(1) or 5A(1).
(2) But—
(a) a contract need not refer to the transaction base time, and
(b) the nomination shall be effective whether or not delivery takes place in the proposed delivery month specified in the nomination and the contract.

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Source: https://www.legislation.gov.uk/ukpga/1987/16/schedule/10/paragraph/5B (the official version)
Page: https://openlegislation.uk/finance-act-1987/schedule-10/paragraph-5B
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.